Bartolo Colon Signs With Oakland Athletics

Update 2:28 PM ET: Colon has agreed to a one-year MLB deal with the Oakland Athletics, reports Jayson Stark of ESPN.

Update: Jon Heyman of CBS Sports reports Colon does have a deal, but it isn't with the D'Backs or Yankees.

Free agent right-handed starting pitcher Bartolo Colon tells Bob Nightengale of USA Today he has agreed to a deal with a team, but won't say which it is until he passes the physical. Looking through the recent Colon rumors, it appears the Oakland Athletics are the team he's signed with, as the two sides had been negotiating a deal; but, the Arizona Diamondbacks had also shown interest.

After missing all of 2010, Colon posted a 4.00 ERA across 164 innings of work (26 starts) last season with 7.4 K/9 and 2.2 BB/9. The rejuvenated veteran saw his fastball speed increase a couple of ticks and get quite a bit of movement. It might be risky counting on Colon after last season, however.

• Twitter / @BNightengale: Barolo Colon says he has agreed to a deal with a team but won't divulge te until he passes physical #mlb

The D'Backs need a fifth starter and Colon would fill that void, while the rebuilding Athletics are just looking for cheap pitchers to be a bridge for next year.